Free Trial

Victory Capital Management Inc. Sells 41,105 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Citizens Financial Group logo with Finance background

Victory Capital Management Inc. reduced its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 843,735 shares of the bank's stock after selling 41,105 shares during the period. Victory Capital Management Inc. owned about 0.19% of Citizens Financial Group worth $34,568,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Great Valley Advisor Group Inc. lifted its holdings in shares of Citizens Financial Group by 0.6% in the 4th quarter. Great Valley Advisor Group Inc. now owns 39,766 shares of the bank's stock worth $1,740,000 after acquiring an additional 224 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of Citizens Financial Group by 10.5% in the 4th quarter. True Wealth Design LLC now owns 2,890 shares of the bank's stock worth $126,000 after acquiring an additional 275 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Citizens Financial Group by 0.5% in the 1st quarter. Park Avenue Securities LLC now owns 53,879 shares of the bank's stock worth $2,207,000 after acquiring an additional 289 shares during the last quarter. Gallagher Fiduciary Advisors LLC lifted its holdings in shares of Citizens Financial Group by 1.9% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 17,386 shares of the bank's stock worth $761,000 after acquiring an additional 327 shares during the last quarter. Finally, Grove Bank & Trust lifted its holdings in shares of Citizens Financial Group by 97.1% in the 1st quarter. Grove Bank & Trust now owns 678 shares of the bank's stock worth $28,000 after acquiring an additional 334 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company's stock.

Citizens Financial Group Trading Up 1.1%

Shares of CFG traded up $0.56 on Tuesday, reaching $49.16. 6,142,877 shares of the company's stock were exchanged, compared to its average volume of 4,847,340. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $21.49 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 0.83 and a beta of 0.76. The business has a 50 day moving average price of $43.05 and a two-hundred day moving average price of $42.41. Citizens Financial Group, Inc. has a 12 month low of $32.60 and a 12 month high of $49.68.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The bank reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.01 billion. Citizens Financial Group had a return on equity of 6.94% and a net margin of 13.26%. The business's revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $0.82 earnings per share. Research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Thursday, July 31st. Citizens Financial Group's dividend payout ratio (DPR) is presently 51.06%.

Citizens Financial Group announced that its Board of Directors has approved a share repurchase program on Friday, June 13th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the bank to purchase up to 8.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently weighed in on CFG shares. Piper Sandler reduced their target price on shares of Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Morgan Stanley reduced their target price on shares of Citizens Financial Group from $54.00 to $43.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. The firm moved its midcap bank industry view from Attractive to In-line, saying “higher and faster than expected” tariffs raise recession risks, will weigh on loan growth and in-turn, forward earnings and multiples. The group is “cheap,” but weaker for longer loan growth and inverted yield curve limit upside catalysts. Wells Fargo & Company set a $57.00 target price on shares of Citizens Financial Group in a report on Wednesday, July 2nd. DA Davidson raised their target price on shares of Citizens Financial Group from $49.00 to $55.00 and gave the company a "buy" rating in a report on Friday. Finally, Truist Financial reduced their target price on shares of Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.05.

View Our Latest Report on CFG

About Citizens Financial Group

(Free Report)

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

Recommended Stories

Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

Should You Invest $1,000 in Citizens Financial Group Right Now?

Before you consider Citizens Financial Group, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Citizens Financial Group wasn't on the list.

While Citizens Financial Group currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The Next 7 Blockbuster Stocks for Growth Investors Cover

Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Why Drone Stocks Are Skyrocketing Right Now!
Pelosi Makes Big Bet on Broadcom—Here’s Why It Matters
This Strategy Beat the S&P—And Most Investors Ignore It

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines